You are here

"US Approves More LNG Exports as Europe Looks To Curb Russian Gas"

"The US Energy Department conditionally approved its seventh liquefied natural gas export terminal Monday. The authorization comes as President Obama visits Europe to discuss European energy security and the continent's response to Russia's Crimea annexation."

"As President Obama discussed the Ukraine crisis with European leaders in The Hague Monday, including the Continent's energy challenges, his administration brought one potential solution a small step closer to reality.

The US Department of Energy conditionally approved Monday the Jordan Cove liquefied natural gas (LNG) project in Coos Bay, Ore. The proposed $7.5 billion export terminal is the seventh such facility to receive a federal permit, and would export up to 0.8 billion standard cubic feet of natural gas per day for 20 years.

With production booming, US oil and gas companies have put pressure on the administration to review longstanding policies that have limited energy exports for security reasons. The need for alternative gas supplies in Europe – made more palpable by the role of natural gas in the ongoing Ukraine crisis – has heightened calls for opening up domestic gas markets to foreign buyers."